8 min
To borrow or not to borrow Financial and Lifestyle Freedom for UK Business Owners
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- Management
Are you considering borrowing to get cash infusion for your business? Don’t do it just yet unless you hear what Annette has to say about borrowing.
Over the past two years, most businesses were in a bad shape because of the pandemic, but borrowing is not the only solution to rescue the business.
Now lack of funds may not necessarily be your fault, but resorting to borrowing from a place of desperation is not a good thing to do. It might be a cause of more problems in the long term.
Here are a few insights you’ll hear in today’s show…
What is the first thing to consider when considering borrowing?Why is it important to go back to your Profit Plan? (...And to even check on your costs and review your estimated revenue?)When is it a good time to borrow and how can borrowing be done strategically?Why is it extremely important to follow Annette’s recommendation to seek advice from a Profit Adviser? (...Or you can get in touch with her if you are having a hard time deciding whether to borrow or not?)
If you’re struggling to understand the accounting for your business, reach out to Annette at podcast@annetteandco.co.uk.
Resources:
Order The Profit Plan E-book
Book a call!
Profit First Checklist
PF for UK biz
Connect to Annette Ferguson:
Facebook
Instagram
YouTube
Are you considering borrowing to get cash infusion for your business? Don’t do it just yet unless you hear what Annette has to say about borrowing.
Over the past two years, most businesses were in a bad shape because of the pandemic, but borrowing is not the only solution to rescue the business.
Now lack of funds may not necessarily be your fault, but resorting to borrowing from a place of desperation is not a good thing to do. It might be a cause of more problems in the long term.
Here are a few insights you’ll hear in today’s show…
What is the first thing to consider when considering borrowing?Why is it important to go back to your Profit Plan? (...And to even check on your costs and review your estimated revenue?)When is it a good time to borrow and how can borrowing be done strategically?Why is it extremely important to follow Annette’s recommendation to seek advice from a Profit Adviser? (...Or you can get in touch with her if you are having a hard time deciding whether to borrow or not?)
If you’re struggling to understand the accounting for your business, reach out to Annette at podcast@annetteandco.co.uk.
Resources:
Order The Profit Plan E-book
Book a call!
Profit First Checklist
PF for UK biz
Connect to Annette Ferguson:
Facebook
Instagram
YouTube
8 min